How would you like to be able to acquire two of your favorite tokens every single day? Fans of One Immortl and OpenSwap now have a way to delegate their $ONE tokens and be rewarded in staked $OpenX / $IMRTL LP tokens. The OpenSwap validator has smart contracts that handle the heavy lifting that allows you to sit back and let your rewards work for you.
Delegate and setup auto-compounding
The OpenSwap Auto-Compounding validator is the only Harmony validator that auto-compounds your rewards directing into staked LP farms each day. By choosing the $OpenX / $IMRTL farm to auto-compound into, the smart contracts will automatically use your rewards to purchase $OpenX and $IMRTL, create the LP tokens, and stake it on the OpenSwap farm to earn additional rewards.
We will walk step by step through delegating $ONE on OpenSwap and setting it up to auto-compound into $OpenX / $IMRTL.
Delegating $ONE on OpenSwap
STEP 1: Go to https://openswap.one
STEP 2: Connect your wallet to the site
STEP 3: Click on ‘Farm’ in the menu
STEP 4: Click ‘Details’ on the validator
STEP 5: Enter in the amount of $ONE to stake in the ‘Stake Amount’ area
STEP 6: Click ‘Stake’
STEP 7: A popup will appear from your wallet. Enter any security information required. Click ‘Approve’. Submit the transaction for completion.
**You have now staked your Harmony $ONE and are earning rewards.**
Now for the auto-compounding into $OpenX / $IMRTL!
STEP 8: While still on the farm page in the details area of the validator, Click ‘Settings’
STEP 9: Under the ‘Set Compounding Farm’ area, find $OpenX / $IMRTL and click ‘Select’
STEP 10: A popup will appear from your wallet. Enter any security information required. Click ‘Approve’. Submit the transaction for completion.
The LP pool that you selected will now have an ‘active’ designation
There you have it. In 10 easy steps, you are now buying two of your favorite tokens every single day.
OpenSwap (app.openswap.one) is a fast and secure non-custodial decentralized exchange that serves as a one-stop-shop to buy, trade, and earn crypto whether you’re from the Harmony, Ethereum, or Binance Smart Chain networks. OpenSwap allows Harmony users to seamlessly trade peer to peer without the tokens ever leaving the original wallet and through liquidity supplied by other users of the platform. With OpenSwap, users can:
- Exchange Tokens/Coins
- Provide Liquidity to Pools
- Earn Rewards by Staking in Lucrative Incentivized Liquidity Pools
- View ‘Personal Farming Profile’ detailing your rewards including Total Stake Value, Average APR %, Total Current Rewards, and Total Current Rewards in USD
- Simplified Bridge for Tokens/Coins to and from the Harmony, Ethereum, and Binance Smart Chain Network
- Collect Fees on Provided Liquidity Without Staking
- Vote on Governance Decisions, Including Adding New Tokens